(Hypebot) — Spotify announced its earnings for the first fiscal quarter of 2022, with monthly active users (MAUs) up by 19% to 422 million year-over-year. Paid subscribers grew 15% to 182 million.
This growth came despite the Joe Rogan controversy that saw some artists pull music off the platform, an exit from the Russian market which cost Spotify 1.5 million subscribers, and overall consumer streaming fatigue that’s hammering Netflix and many other streaming services.
Expect More Spotify Live
There were few surprises on the Spotify earnings call Wednesday morning.
But in answer to an analyst’s question. CEO daniel Ek did promise more live events including music, a move also signaled by the streamer’s recent integration of its Greenroon live platform into the main Spotfy app,
First Quarter 2022 Spotify Highlights
- MAUs grew 19% Y/Y to 422 million or 419 million excluding a one-time benefit of million MAUs
- Premium Subscribers grew 15% Y/Y to 182 million (inclusive of approximately 1.5 million disconnects from the wind-down of our Russian operations)
- Premium ARPU grew 6% Y/Y in Q1 and 3% Y/Y on a constant currency basis
- Gross Margin finished at 25.2%
- Announced agreement with Google for User Choice Billing and a long-term partnership agreement with FC Barcelona
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.